Fixed Assets

The Maconomy solution includes a Fixed Assets module. The module is integrated with the General Ledger module and enables daily administration of assets and depreciations by the Finance Department.

The Fixed Assets module allows you to:

• Create assets with information about purchase date, amount purchased, who is responsible for the asset, depreciation value, depreciation method, and depreciation period.
• Create assets as part of the purchasing process.
• Depreciate assets in a batch run at the end of each month. You can also handle depreciations manually.
• Link assets to projects to get the depreciation cost on the project.
• Adjust assets in several ways: improved, depreciated, written up, written down, updated, or sold. You can also transfer assets between legal entities if multiple legal entities exist.
• Look up transaction history on each asset in an asset ledger card.
• Use a standard report for year-end closing.